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If the new peak electricity time frame is applied in June, will millions of businesses and business households have to "burden" tens of millions of dong in additional electricity costs amid the historic heat wave?
The Ministry of Industry and Trade wants to immediately apply a new peak electricity time frame from 5:30 p.m. to 10:30 p.m. during this year's hot season. This move is considered an emergency measure to save the power system from the risk of overload when the North continuously sets electricity consumption records.
What causes strong debate is that the period of time when electricity prices are highest is exactly when people get off work, businesses operate at their peak and the demand for air conditioning increases the most.
OLD AND NEW ELECTRICITY TIMEFRAME
Time type Old frame Recommended new frame
Peak hours 9:30 a.m. to 11:30 a.m. and 5:30 p.m. to 10:00 p.m. 5:30 p.m. to 10:30 p.m.
Off-peak 10pm-4am 0am-6am
Normal The remaining hours are 6:00 a.m. - 5:30 p.m. and 10:30 p.m. - 10:00 p.m
Sundays will no longer be peak hours according to the new proposal.
⚠️WHAT IS CAUSING THE ELECTRICITY INDUSTRY TO BE ON "RED ALERT"
On May 26, the national electricity system reached a record consumption capacity:
Power consumption area
Nationwide 57,590 MW
The North 29,385 MW
Northern evening forecast 31,000-31,500 MW
Outdoor temperatures in many places reached 40-42 degrees Celsius, causing electricity consumption to skyrocket in just a few days.
The Ministry of Industry and Trade also warns of the risk of "super El Nino" from July with a probability of up to 80%, leading to:
• drought
• Lack of hydroelectric reservoirwater tumor
• reduced power output
• demand for air conditioning increased dramatically
BUSINESSES WILL UNDER THE GREATEST PRESSURE
About 1.25 million production and business electricity meters are applying the peak hour mechanism.
This means:
If a factory runs the evening shift, it will consume more electricity
Shopping centers have increased operating costs
Restaurants, hotels, and cold storages are under great pressure
Enterprises producing steel, cement, and mechanical engineering are susceptible to cost overruns
THE PROPORTION OF ELECTRICITY CONSUMPTION HAS CHANGED STRONGLY
Stage Industrial electricity Domestic electricity
In 2019 about 30% about 50%
In 2026, more than 50%, nearly 30%
This shows that electricity production is currently the biggest "burden" of the national electricity system.
MANY BUSINESSES START CONSIDERING BATTERY STORAGE
Some say that peak electricity prices are making investment in battery storage and solar power more attractive.
THE PROBLEM IS OF INTEREST TO THE COMMUNITY
Item Estimated Cost
Family battery storage system is about +220 million VND
Save electricity per month about +3.15 million VND
Payback period is about 5.8 years
This trend can cause the battery storage, rooftop solar power and inverter markets to grow extremely strongly from the end of 2026.
VIETNAM IS FACING THE ELECTRICITY PROBLEM LIKE THAILAND AND CHINA
Many Asian countries have had to apply:
• hourly electricity price
• industrial power cuts
• Encourage shifts in production at night
• Subsidizing electricity prices for hot season activities
However, in Vietnam, the biggest controversy is that the new rush hour coincides with the living hours of millions of families and business activities.Evening service business.
RISK OF INCREASED ELECTRICITY COSTS
If businesses have to pay more expensive electricity:
Food prices may increase
Logistics costs increase
Retail prices of goods are inflated
Inflationary pressure returns
In particular, large electricity consuming industries such as steel, cement, food processing and cold storage will be most affected.
In your opinion, should Vietnam increase peak electricity prices to save the system or should it invest heavily in new power sources instead of putting pressure on users?
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